The English High Court last week published its judgment ([2025] EWHC 2678 (Ch)) in respect of its sanction on 9 July 2025 of the inter-conditional restructuring plans proposed by thirteen Turbo Group companies under Part 26A...more
10/28/2025
/ Commercial Bankruptcy ,
Corporate Restructuring ,
Cramdown ,
Creditors ,
Debt Restructuring ,
Debtors ,
Fairness Standard ,
Insolvency ,
Restructuring ,
Secured Debt ,
UK ,
UK Companies Acts
The sanction decision handed down by the English High Court (Sir Alastair Norris) on 4 September 2025 in connection with the River Island Part 26A restructuring plan has provided helpful clarification as to what the Court...more
In 2024, two judgments found that consent from repaid secured creditors is not required to extend an administration. Although seemingly a common sense approach, language used in the Insolvency Act 1986 (the “Act”) and the...more
On 18 September 2025, the Chancellor of the High Court, Sir Julian Flaux, issued a revised Practice Statement (the “Revised Practice Statement”) in respect of Schemes of Arrangement and Restructuring Plans under Parts 26 and...more
On 19 August 2025, the High Court refused sanction of the restructuring plan proposed by Waldorf Production UK Plc under Part 26A of the Companies Act 2006. On 9 September 2025, Waldorf was granted a certificate to...more
9/10/2025
/ Appeals ,
Bondholders ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
HMRC ,
Insolvency ,
Oil & Gas ,
Sanctions ,
Scheme of Arrangement ,
UK Companies Acts ,
UK Insolvency Act
Project Fürst purported to restructure its liabilities of over EUR 1 billion, for which the developer relocated to London in order to implement a “Restructuring Plan” under the English Part 26A regime. The Restructuring Plan...more
The UK High Court has considered and granted permission for a so called “credit bid” in an application by the Special Administrators of Sova Capital Ltd (in special administration) for a substantial portfolio of illiquid...more
The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more
Although the IMF recently announced at Davos that it would upgrade its global economic forecasts, with an improvement predicted in the later part of 2023 and into 2024, times remain difficult for many companies and their...more
The UK Government yesterday announced that it will proceed with the phasing out of temporary measures introduced to protect businesses from creditor action during the COVID-19 pandemic, whilst also announcing new measures to...more
The Act introduces two new offences – conduct risking accrued DB benefits and avoidance of employer debt, as explained below. Each offence is punishable by up to seven years' imprisonment and / or an unlimited fine. There are...more
On 12 May 2021, Mr Justice Snowden sanctioned Virgin Active’s three inter-conditional restructuring plans under Part 26A of the Companies Act 2006. The case has been followed with significant interest in the restructuring...more
New statutory provisions retrospectively change the way many existing and future contracts work. Businesses urgently need to look afresh not just at supply arrangements but also many other significant transactions of which...more
On 25 September 2019, the Ukrainian Parliament brought into force law No. 112-IX (the “Law“). The purpose of the Law is to correct deficiencies in existing legislation and further promote out-of-court financial restructurings...more
11/19/2019
/ Commercial Bankruptcy ,
Consumer Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Distressed Debt ,
Financial Regulatory Reform ,
Insolvency ,
Loans ,
New Legislation ,
Secondary Markets ,
Ukraine
Tech has been transformed in the last decade. Does value invested in the cloud, big data and algorithms create new risks and opportunities if there is an economic downturn. If so, what should you do?
During this session,...more
10/28/2019
/ Acquisitions ,
Banking Sector ,
Business Development ,
Business Opportunities ,
Distressed Assets ,
Economic Development ,
Economic Downturn ,
Emerging Technology Companies ,
Events ,
Financial Institutions ,
Financial Services Industry ,
Financing ,
Risk Mitigation ,
Technology Sector
The recent Debtwire European Mid-Market Forum opened with a presentation from Paul Johnson of the Institute of Fiscal Studies. He warned the delegates of storm clouds gathering over the economy, suggesting that we may begin...more
A cross-practice team led by partner Tom Astle has advised a syndicate of c.75 lenders under a bespoke €1.06bn super priority loan to distressed Croatian food producing and retail giant Agrokor (the “SPFA“) on an English law...more
Astaldi, the Italian multinational construction company, filed on Friday (28 September) for concordato in bianco. This is an in-court restructuring proceeding under the Italian Bankruptcy Law, which imposes a standstill...more
Hogan Lovells’ London restructuring team led by partner Tom Astle assisted our clients, lenders of a €1.06bn priority funding loan, with distressed Croatian retail giant Agrokor’s proposed restructuring settlement plan which...more
On 9 November 2017, in a rare example of a contested recognition hearing, His Honour Judge Paul Matthews granted recognition of Agrokor’s extraordinary administration (EA) as a foreign main proceeding under the Cross-Border...more